Oligarchs Mga Amo' ng Senador sa Pinas?

By Mortz C. Ortigoza

Karamihan dito sa ilalim Amo' ng mga Senators natin. Mas mataas pa ito sila sa mga ibang Sena-tongs dahil sila ang nagbibigay ng Lobby Monies pag election. Kaya kulilat ang dami ng trabaho sa Pinas dahil bawal ang 100% control ng Foreign Investors. Mas pipiliin pa ng Foreign Direct Investment maglagak ng negosyo sa Vietnam, China, Indonesia, at La-os. Dahil dito since panahon pa ni Kopong-Kopong Oligoply ang kinahahatnan natin. Lalong yumayaman itong karamihan sa mga Oligarchs dahil kontrolado nila ang presyo at quality ng serbisyo gaya ng malapagong na internet at mahal na kuryente.

Amendment to 100 % foreign or Filipino the ownership of a business utility in the Philippines can solve the Filipinos unemployment problem as it will open the economy to more investors.

So who says that Federalism is the economic silver bullet?

It’s the amendment of the Public Service Acts (PSA), dimwit, that until now the Senators procrastinate to pass so President Rodrigo Duterte can sign it into law.

The present PSA or otherwise known as Commonwealth Act No. 146 covers all types of common carriers be it by land, air or water, water supplies and systems, petroleum, electricity, communications systems and even broadcasting stations.

It is where utilities have been mandated by law to be averagely 60 percent owned by Filipino or Filipinos despite the thick pockets of the foreign partners who sulked themselves in the corner to settle for the 40 % of the voting stocks.

Because of this seemingly xenophobic equity, foreign investors go instead to Mainland China, Singapore, Thailand, Vietnam, and other South East Asian countries.

If the House of Representatives passed the PSA in early last year, why the Mabagal na Mataas na Kapulungan or Slow Senate can not pass it?

Is it because its campaign time for the May 9, 2022 poll where re-elective Senators have to crisscross the country in an expensive hundreds of millions of pesos stump where each of them need to pay the prohibitive radio and television advertisement?

Do they need badly the monies and aircraft of these corporations being affected by the amendment of the PSA?

Here’s what I wrote before on the lobbies that made our senators corrupt at the impoverishment of the Filipinos.

The indifference of Congress to amend this old law (PSA) was suspected to be influenced by the lobby monies of big businesses primordially owned by the local oligarchs whose clout run deep in the recently mentioned industries that made them even the globally richest individuals as published by Forbes Magazine on its Richest People in the Philippines as seen on the poster below.

Their control of these industries cost a gaping trade imbalance of tens of billions of U.S dollars of the pathetic Philippines export (the lowest on ASEAN-6) versus her imports to countries around the globe.

This growing trade imbalance helped weakened the exchange rate and spikes the prices of goods and services at the expense of poor Filipinos.

OLIGARCH PA MORE!